GAMBINO REALTORS THE COLLECTION
JUNE | JULY 2020
Welcome to the June | July issue of The Collection! Summer is in full swing and the market is hot. Trends show buyers are ready to find their dream homes, while sellers are prepping to put their homes on the market at a pace that is accelerating. Whether you are ready now or prefer to wait, this is a great time to position yourself for your future real estate dreams. Feel free to gain inspiration from our feature homes and give us a call so we can help you navigate our unique market. Cordially, Jonathan R. Krause, CRB President JKrause@GoGambino.com
THE COLLECTION Only Gambino Realtors places your home directly in the email inbox of 62,500 homeowners with a household income of $250,000.00 or more. Our reach through this luxury publication covers Winnebago, Boone, McHenry and Lake Counties in Northern Illinois.
815•282•2222 www.GoGambino.com
FEATURED HOMES
LAKE SUMMERSET
BELVIDERE
ROCKFORD
ROSCOE
DAVIS
LOVES PARK
ROCKFORD
ROCKFORD
Three Reasons Homebuyers are Ready to Purchase This Year
A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year (see graph below):
Let’s break down why these are a few of the key factors motivating buyers to actively engage in the home search process, and the corresponding wins for sellers as well.
1. Low Mortgage Rates The biggest reason potential homebuyers indicated they’re eager to purchase this year is due to current mortgage rates, which are hovering near all-time lows. Today’s low rates are making it more affordable than ever to buy a home, which is a huge incentive for purchasers. In fact, 67% of respondents in the Lending Tree survey want to take advantage of low mortgage rates. This is no surprise when comparing historic mortgage rates by decade (see below):
Sam Khater, Chief Economist at Freddie Mac recently said, “As the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low mortgage rates are a key factor in this recovery.” 2. Reduced Spending Some people have also been able to save a little extra money over the past few months while sheltering in place. One of the upsides of staying home recently is that many have been able to work remotely and minimize extra spending on things like commuting expenses, social events, and more. For those who fall into this category, they may have a bit more saved up for down payments and closing costs, making purchasing a home more feasible today.
3. Re-Evaluating Their Space Spending time at home has also given buyers a chance to really evaluate their living space, whether renting or as a current homeowner. With time available to craft a wish list of what they really need in their next home, from more square footage to a more spacious neighborhood, they’re ready to make it happen.
What does this mean for buyers and sellers? With these three factors in play, the demand for housing will keep growing this year, especially over the summer as more communities continue their phased approach to reopening. Buyers can take advantage of additional savings and low mortgage rates. And if you’re thinking of selling, know that your home may be in high demand as buyer interest grows and the number of homes for sale continues to dwindle. This may be your moment to list your house and make a move into a new space as well. If you’re ready to buy or sell – or maybe both – let’s connect to put your plans in motion. With low mortgage rates leading the way, it’s a great time to take advantage of your position in today’s market. Contact Gambino Realtors at 815.282.2222.
SUNSETS ON THE LAKE $475,000 This expertly crafted, one owner custom home is your dream home on the lake. The exquisite woodwork and hardwood floors crafted from local trees accentuates the beautiful, comfortable 4,300 square foot layout. Quality craftsmanship can be found throughout the home including oak cabinetry, granite, breakfast bar and stainless steel appliances in the kitchen. Enjoy the gorgeous views from the majestic floor to ceiling bay windows and on those cool evenings revel in the warmth of the living room fireplace that heats the entire home. Additional bonuses to the convenient layout on the first floor are the sunroom, office/den combo, bedroom, laundry and full bath. The second floor features three bedrooms and two full baths. The primary bedroom includes a gorgeous en suite with jetted tub, separate shower as well as double sinks. Each bedroom features walk in closets. The fully exposed lower level boasts a kitchenette, full bath, family, media and game areas which walk out to the patio. Enjoy all Lake Summerset has to offer and feel those vacation vibes all year.
853 Breckenboro Road • 4 BEDROOMS • 4,300 SQUARE FEET • STEEL ENFORCED SHORELINE • EXPOSED LOWER LEVEL
Pam Cunningham 815|289|6323 Contact View Full Listing for Details
PRIVACY ON CUL DE SAC $389,900
Custom executive brick and vinyl two story on a half acre cul de sac lot awaits. With 4,154 square feet of living space, four bedrooms, three and a half baths as well as a three and a half car garage, you and yours will have plenty of room and privacy. The main floor boasts the primary bedroom, a great room with gas fireplace, spacious dining room and cozy den. The large cherry kitchen with granite, stainless steel appliances and breakfast room takes you to a wonderful 18x16 deck. The first floor conveniently has a welcoming foyer, mud room and laundry. The three bedrooms upstairs are generous in size and share a large bath. Finished lower level with rec room and egress window, exercise room/fifth bedroom with egress window, and soundproof music/sixth bedroom with egress window. The flooring in this home creates warmth with Brazilian hardwood and bamboo featured. Enjoy the privacy of a tree-lined cul de sac and settle right into your new home.
1917 Eden Place • 4 BEDROOMS • 4,154 SQUARE FEET • FINISHED LOWER LEVEL • MAIN FLOOR LAUNDRY
Jean Campbell 815|505|8336 Contact View Full Listing for Details
ROOM TO ROAM $359,900 Make your dreams of a horse farm come true. This beautiful home sits on 4.72 acres and is ready for you and your horses to move in. With spectacular views from your deck, this home offers its new owner a chance to create lasting memories. Boasting a 40x50 barn on the spacious lot, this property is ready for those who love the outdoors and privacy. After a day of riding, retire to the open floor plan for some much needed rest. With three bedrooms, two and a half baths and a three car garage, there is plenty of room to roam inside and out. The partially exposed lower level is waiting for your ideas and is ready to live up to its potential. The ten foot ceilings create an open and airy feel throughout the well laid out floor plan. Adventures await in your very own immaculate ranch set on a beautiful lot filled with possibilities including housing your horses.
16851 Har tman Road • 3 BEDROOMS • 4.72 ACRES • HORSES ALLOWED • 40X50 BARN
Mary Shreve 815|262|7726 Contact View Full Listing for Details
CUSTOM TWO STORY $349,000 Welcome home to this custom designed two story on a tranquil two acre setting. Large living room with wood burning fireplace flanked by patio doors overlooking the back yard. Huge kitchen with eating area. Generous dining room with bay window. Den/family room with built-ins. Main floor bedroom suite with separate jetted tub, toilet/shower and walk-in closet. Laundry is conveniently located on the first floor. Three large bedrooms and full bath upstairs. Walkout lower level has huge rec room and half bath. Oversized three car garage with additional boat storage creates plenty of space for toys. Wrap around deck with gazebo for enjoying the beautiful days and evening. The 500 feet of creek frontage adds a cozy, vacation vibe for all to enjoy.
10963 Shaw Road • 4 BEDROOMS • TWO ACRES • 500 FEET CREEK FRONTAGE • FULL EXPOSURE
Matt Koch 815|543|7945 Contact View Full Listing for Details
IMMACULATE TWO STORY $339,900
Walk to Aberdeen Park or stay and play on your very own 1.55 acres. The two-story foyer with sweeping staircase welcomes you into over 4,000 square feet of living space. Formal living room with hardwoods and formal dining room perfect for entertaining family and friends. Fully equipped kitchen with center island and stainless steel appliances opens to a sun-filled family room with fireplace. Additionally, generously sized sliders open to a multi-tiered 1,500 square foot deck to enjoy sunsets and all nature has to offer. Upstairs there are four full bedrooms. The primary bedroom boasts a gorgeous bath. Spread out in the fully finished lower level with full exposure, nine foot ceilings, bar, stone walled fireplace, full bath and fifth bedroom. This stunning home is ready for a new owner to relish in all it has to offer.
11761 Dundee Drive • 4 BEDROOMS • 1.55 ACRES • FINISHED EXPOSED LOWER LEVEL • FIRST FLOOR LAUNDRY
Cheryl Jacobs 815|494|4956 Contact View Full Listing for Details
SPACIOUS AND WOODED $282,900
Awesome 2,600(+) square foot, four bedroom, three bath, spacious and open floor plan ranch sitting on approximately a 3/4 acre, private wooded lot. Feel welcomed with the warm tiled entry. Hardwood floors and vaulted ceilings in living room and dining room, family room and hallway. Family room features a gas fireplace to warm those cool evenings during the fall and winter. Kitchen features terrazzo counters, tiled floor and back splash, oak cabinets, track lighting and stainless appliances. Large dining area with a view of the private back yard with plenty of entertaining space. Gorgeous remodeled main and primary baths with porcelain tile, jacuzzi in the main, Bluetooth speakers with light in both bathrooms and double shower in the primary. Lower level full walkout with second family room, wood burning fireplace, fourth bedroom containing two closets and updated 3/4 bath which is plumbed and ready for a shower. Relax on the large deck and enjoy the convenience of a circle drive along with many updates and appliances over the last couple of years.
7222 Warblers Way • 4 BEDROOMS • 2,600 SQUARE FEET • 3/4 ACRE WOODED LOT • FULLY EXPOSED LOWER LEVEL
Angie Leiva 815|742|6010 Contact View Full Listing for Details
CENTRAL PARK TWO STORY $269,900
This exceptional and stunning two story brick front home with over 3,000 square feet of incredible living space is located in Central Park Subdivision within Boone county. Lovely formal dining room and living room boast arched entries and large windows overlooking the lake. Open concept family room with cozy gas and wood fireplace is the perfect place for spending time with a good book or family and friends. The home office is graced with French doors and the kitchen is well designed with lots of cherry cabinets, island, pantry and stainless steel appliances all leading to dining area with sliders to large deck and nice yard with irrigation system. Open staircase leads to large bedroom suite with walk-in closet, bath with double vanity, whirlpool tub and separate shower. The second floor is home to the laundry room. Open walkway overlooking bright, family room with two story, four large Pella windows. With a partially finished basement that has egress window, four bedrooms and two and half baths, this home is spacious and bright.
12316 Fire Island Drive • 4 BEDROOMS • 3,000(+) SQUARE FEET • PARTIAL FINISHED LOWER LEVEL • ATTACHED THREE CAR GARAGE
Halina Borowski 815|621|8507 Contact View Full Listing for Details
NEIGHBORHOOD TREASURE $259,000
This is not your grandmother’s Victorian. National Avenue, the street with tall trees lining the Rock River. Remodeled by an architect for his home. Approximately 2,900 square feet of finished space in meticulous condition. Three full renovated bathrooms; one with a heated floor, three Bedrooms. Hardwood floors, two gas fireplaces, pocket doors, and 10 foot high ceilings. Remodeled kitchen with stainless steel appliances. Interior washed with natural light. Custom designed cabinetry with many bookcases, serving buffet, custom office, and TV room. Main bedroom with fireplace and large walk-in closet. Second floor laundry room. Abundant storage and closet space. Received the Park District’s Award for the best front porch. Gardens were in the Garden Glory Tour. Two GFA’s and 2 central air units, security system, irrigation system and Nest. Near the Bike Path and Rock River.
1502 National Avenue • 3 BEDROOMS • NEAR BIKE PATH AND ROCK RIVER • BEAUTIFUL GROUNDS • WRAP AROUND PORCH
Diane Meltmar 815|540|3259 Contact View Full Listing for Details
Homebuyers Are In The Mood to Buy Today According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well. There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021: “Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.” With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the housing market forward. Rates also reached another record low last week, so homebuyers are in what FreddieMac is identifying as the buying mood: “While the rebound in the economy is uneven, one segment that is exhibiting strength is the housing market. Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009. Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood. However, it will be difficult to sustain the momentum in demand as unsold inventory was at near record lows coming into the pandemic and it has only dropped since then.”
There’s no doubt that even though buyers are ready to purchase, it’s hard for many of them to find a home to buy today. Mortgage rates aren’t the only thing hovering near all-time lows; homes available for sale are too. With housing inventory as scarce as it is today – a nearly 20% year-over-year decline in available homes to purchase – keeping buyers in the purchasing mood may be tough if they can’t find a home to buy (See graph below):
What does this mean for buyers? Competition is hot with so few homes available for purchase and low mortgage rates are helping to drive affordability as well. Getting pre-approved now will help you gain a competitive advantage and accelerate the homebuying process, so you’re ready to go when you find that perfect home you’d like to buy. Working quickly and efficiently with a trusted real estate professional will help put you in a position to act fast when you’re ready to make your move. What does this mean for sellers? If you’re thinking of selling your house, know that the motivation for buyers to purchase right now is as high as ever with rates where they are today. Selling now before other sellers come to market in your neighborhood this summer might put your house high on the list for many buyers. Homebuyers are clearly in the mood to buy, and with today’s safety guidelines and precautions in place to show your house, confidence is also on your side. Bottom Line Whether you’re looking to buy or sell, there’s great motivation to be in the housing market, especially with mortgage rates hovering at this historic all-time low. Let’s connect today to make sure you’re ready to make your move. Call Gambino Realtors at 815.282.2222.
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Call Gambino Realtors 815 | 282 | 2222 Or log onto gogambino.com to start your home buying and selling process today!
